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Perspectives on Household Portfolios, 1977-83

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  • Donald L. Lerman

Abstract

Total debt, total assets, and net worth all declined in real terms for the mean household over the 1977-83 period, according to consumer survey data. A high and rising concentration of household debt was held by the highest debt holders and the highest income households. While the proportion of households with high debt relative to income rose over this period, most of this increase was in relatively wealthy households. Relatively high concentrations of high debt households were found among high income, young, male, West region, and self-employed households.

Suggested Citation

  • Donald L. Lerman, 1987. "Perspectives on Household Portfolios, 1977-83," Eastern Economic Journal, Eastern Economic Association, vol. 13(4), pages 399-410, Oct-Dec.
    • Handle: RePEc:eej:eeconj:v:13:y:1987:i:4:p:399-410
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume13/V13N4P399_410.pdf
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    References listed on IDEAS

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    1. Douglas K. Pearce, 1985. "Rising household debt in perspective," Economic Review, Federal Reserve Bank of Kansas City, vol. 70(Jul), pages 3-17.
    2. Robert B. Avery & Gregory E. Elliehausen, 1986. "Financial characteristics of high-income families," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Mar, pages 163-177.
    3. Randall Pozdena, 1987. "Inflation, age, and wealth," Economic Review, Federal Reserve Bank of San Francisco, issue Win, pages 17-30.
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    Cited by:

    1. Lerman, Donald L., 1990. "An Analysis of the Recent Surge in Consumer Debt in Rural Areas," Staff Reports 278324, United States Department of Agriculture, Economic Research Service.

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